Bangkok:Thailand and Russia have agreed to collaborate on strengthening food security and addressing climate change and supply chain volatility. This cooperative effort aims to leverage the agricultural potential of both countries by creating trading networks, diversifying supply sources, and developing logistics systems. Additionally, the two nations will work on opening agricultural markets and expanding trade opportunities.
According to Thai News Agency, Mr. Suriya Jungrungreangkit, Thailand's Minister of Agriculture and Cooperatives, emphasized the importance of food security as a foundation for sustainable economic development, social stability, and global peace. He made these remarks during a keynote address at the 2nd Russian-Thai Investment Forum. The forum addressed the challenges posed by climate change and supply chain uncertainties, highlighting the need for concrete international cooperation to build reliable trading networks and diversify agricultural sourcing.
Mr. Suriya also engaged in discussions with Mr. Vladimir Ilyichov, Deputy Minister of Economic Development of the Russian Federation, as well as with the Governor of the Krasnodar Region and the Russian Ambassador to Thailand. Both sides agreed to enhance their agricultural sectors, increase the value of agricultural products, and expand trade opportunities to improve food security and mitigate the risk of food shortages.
In terms of trade cooperation, Thailand is encouraging the export of promising agricultural products to Russia, such as pet food, processed fishery products, and tropical fruits. Russia, in turn, is interested in exporting products like premium beef and grains to Thailand. This mutual interest leverages the distinct agricultural strengths of each country. Future Thai-Russian agricultural meetings will further discuss these trade opportunities.
Russia ranks as Thailand's 34th largest trading partner for agricultural products. The agricultural trade between the two countries is projected to reach 8,228 million baht by 2025, with an average growth rate of 7.76 percent per year from 2023 to 2025. Thailand's key exports to Russia include tuna, processed fish products, and rice, consistently resulting in a trade surplus in agricultural products.